Dimensional Fund Advisors LP Sells 9,016 Shares of Corpay, Inc. $CPAY

Key Points

• Dimensional Fund Advisors LP reduced its stake in Corpay, Inc. by 1.2%, owning approximately 1.10% of the company after selling 9,016 shares in Q1.
• Several institutional investors have increased their holdings in Corpay, leading to an ownership of 98.84% by hedge funds and other institutional investors.
• Analysts have mixed ratings on Corpay, with targets ranging from $339.00 to $392.00, indicating a consensus rating of "Moderate Buy" and an average target price of $399.43.

Dimensional Fund Advisors LP lowered its position in shares of Corpay, Inc. (NYSE:CPAY - Free Report) by 1.2% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 770,272 shares of the company's stock after selling 9,016 shares during the quarter. Dimensional Fund Advisors LP owned about 1.10% of Corpay worth $268,599,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Meeder Advisory Services Inc. lifted its position in Corpay by 5.0% during the first quarter. Meeder Advisory Services Inc. now owns 678 shares of the company's stock valued at $236,000 after buying an additional 32 shares during the period. Townsquare Capital LLC grew its stake in shares of Corpay by 0.7% in the 1st quarter. Townsquare Capital LLC now owns 4,520 shares of the company's stock worth $1,576,000 after buying an additional 32 shares during the last quarter. Fulton Bank N.A. grew its stake in shares of Corpay by 2.1% in the 1st quarter. Fulton Bank N.A. now owns 1,665 shares of the company's stock worth $581,000 after buying an additional 34 shares during the last quarter. Wedmont Private Capital grew its stake in shares of Corpay by 3.2% in the 1st quarter. Wedmont Private Capital now owns 1,110 shares of the company's stock worth $387,000 after buying an additional 34 shares during the last quarter. Finally, Continuum Advisory LLC grew its stake in shares of Corpay by 29.6% in the 4th quarter. Continuum Advisory LLC now owns 184 shares of the company's stock worth $62,000 after buying an additional 42 shares during the last quarter. Hedge funds and other institutional investors own 98.84% of the company's stock.

Analyst Upgrades and Downgrades

Several equities analysts have recently weighed in on CPAY shares. Morgan Stanley reduced their price target on Corpay from $360.00 to $356.00 and set an "equal weight" rating for the company in a report on Monday, August 11th. Robert W. Baird set a $440.00 price target on Corpay in a report on Tuesday, June 10th. Deutsche Bank Aktiengesellschaft started coverage on Corpay in a report on Thursday, July 17th. They set a "buy" rating and a $390.00 price target for the company. Oppenheimer started coverage on Corpay in a report on Monday, April 28th. They set a "market perform" rating for the company. Finally, Wall Street Zen downgraded Corpay from a "buy" rating to a "hold" rating in a report on Saturday, August 16th. Nine equities research analysts have rated the stock with a Buy rating and five have issued a Hold rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $399.43.

Corpay Stock Performance

NYSE CPAY traded up $13.1330 during trading hours on Friday, hitting $330.7930. The company's stock had a trading volume of 360,730 shares, compared to its average volume of 555,364. Corpay, Inc. has a 12 month low of $269.02 and a 12 month high of $400.81. The company's 50 day simple moving average is $325.39 and its two-hundred day simple moving average is $333.88. The company has a market cap of $23.36 billion, a P/E ratio of 22.47, a price-to-earnings-growth ratio of 1.26 and a beta of 0.96. The company has a debt-to-equity ratio of 1.48, a current ratio of 1.12 and a quick ratio of 1.12.

Corpay (NYSE:CPAY - Get Free Report) last released its quarterly earnings data on Wednesday, August 6th. The company reported $5.13 EPS for the quarter, topping the consensus estimate of $5.11 by $0.02. Corpay had a return on equity of 39.13% and a net margin of 25.17%.The company had revenue of $1.10 billion during the quarter, compared to the consensus estimate of $1.09 billion. During the same period last year, the company earned $4.55 EPS. Corpay's revenue for the quarter was up 12.9% on a year-over-year basis. As a group, sell-side analysts expect that Corpay, Inc. will post 19.76 EPS for the current fiscal year.

About Corpay

Corpay, Inc operates as a payments company that helps businesses and consumers manage vehicle-related expenses, lodging expenses, and corporate payments in the United States, Brazil, the United Kingdom, and internationally. The company offers vehicle payment solutions, which include fuel, tolls, parking, fleet maintenance, and long-haul transportation services, as well as prepaid food and transportation vouchers and cards.